Japan Sanctions Russian, Belarusian Banks

In response to Russia's invasion of Ukraine, the Japanese government announced Tuesday that it will add two Russian banks and one Belarusian bank to its list of sanctions, Mainichi Japan.

Photo Insert: The assets of Credit Bank of Moscow, Russian Agricultural Bank, and Belarusian Bank for Development and Reconstruction will be frozen on July 7, 2022.

Effective July 7, the assets of Credit Bank of Moscow, Russian Agricultural Bank, and Belarusian Bank for Development and Reconstruction will be frozen, and any transactions with them will require prior clearance from the government.

Tokyo's sanctions now include 12 Russian banks and four Belarussian institutions.

The government also banned the export of products to Russia that could help develop its "industrial foundation," according to the statement. The targeted commodities, according to a government official, will be specified later.

Since Russian soldiers invaded neighboring Ukraine in late February, Tokyo has placed economic penalties on Moscow in line with Western countries, including suspending Russia's "most-favored-nation" trade status and freezing the assets of its president, Vladimir Putin, as well as its central bank.

Belarus, which shares a northern border with Ukraine, has been hit with similar economic penalties for its involvement in assisting Russia's assault.

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